Microgrid as a service market to provide over USD 904 Million revenue post 2016

Micro-grid as a service market is expected to deliver CAGR of 16% during the period 2016 to 2022.

Market Research Future expects the global micro-grid as a service market to grow over the CAGR of 16% during the period 2016 to 2022 from USD 772 million in 2015.

Micro-grid as a solution combines solar photovoltaic (PV) panels, batteries and controllable load in order to meet the requirements of industrial, residential or consumer loads anywhere in the world.

According to the market research firm, the micro-grid as a Service Market is registering healthy growth due to various benefits offered by micro-grids such highly reliability, economical & efficient energy power, enhancement of renewable energy sources and smart grid integration among others.

The autonomous working nature of micro-grid provides great benefits to communities that have no access to electricity.

The Solution also provides dynamic monitoring, scalability, and control to improve energy output. Micro-grid as a solution offers electricity at affordable rate and helps in reducing the economic losses from electricity outages in emergency situation.

Some of major key players in Micro-grid as a Service Market such as ABB Ltd. (Switzerland), General Electric (U.S.), Siemens AG (Germany), Eaton Corp. PLC (Ireland), Schneider Electric SE (France) among others are investing in renewable energy solution such as micro-grid thus supporting the market of micro-grid as a Service.

Source: Solarserver